Patanjali Foods Q4 results: Net profit rises 13%, firm declares Rs 6 dividend

Patanjali Foods Ltd on Tuesday reported 13 per cent growth in standalone net profit at Rs 264 crore for the quarter ended March 31, 2023. It reported a standalone net profit of Rs 234 crore in the year-ago period.

The company's Board has announced a final dividend of Rs 6 (300 per cent on the face value of Rs 2 per share) for FY23. The company, in a stock exchange filing, also said that dividend is subject to approval of the shareholders at the ensuing Annual General Meeting.

Patanjali’s standalone revenue from core operations rose 18 per cent to Rs 7,873 crore for the fourth quarter ended March 2023 as compared to Rs 6,664 crore a year ago. However, other income of the company grew significantly at almost 650% to Rs 90 crore as against Rs 12 crore a year ago.

On the other hand, expenses of the company have also climbed to Rs 7,613 crore as compared to Rs 6,380 crore a year ago.

On annualised basis, in FY23, Patanjali Foods recorded total income of Rs 31,821 crore by posting over impressive 31 per cent growth as compared to the previous year. The revenues for food and FMCG segment have reached to Rs 6,218 crore as compared to Rs. 1,683 crore on YoY basis. PBT & PAT increased during FY 2023 by around 10 per cent although EBIDTA has marginally decreased due to sharp fall in edible oil prices.

“The company is able to balance its revenues with its strong food products business. PFL has a very large portfolio of food business which is growing at 15% to 20% year on year,” said the company in a regulatory filing.

“The food portfolio has got wide range of products like cow ghee, staples, Edible oils like mustard oil, etc, with the beverages like aloe vera juice and amla juice, etc, which have become very popular,” the company added.

Patanjali Foods scrip on BSE closed trading session 0.7% higher at Rs 1,021 on Tuesday.

"The food products under Patanjali brand are gaining market acceptance to sustain the growth as recorded in last three quarters of (fiscal) 2022-23," the Ruchi-branded cooking oil maker said in an exchange filing.

 

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